Premier League clubs spent £180million during the January transfer window - the first time the figure has fallen since 2012, according to football finance experts at Deloitte.
Nearly a third of the total expenditure was accounted for by Chelsea's £55million outlay for Christian Pulisic from Borussia Dortmund.
The biggest Premier League Deadline Day deals saw Miguel Almiron join Newcastle for £21million, with Jonny Otto heading to Wolves for £15million.
In stark contrast, last year's winter transfer window saw top flight clubs shell out £430million, with big money moves including Virgil van Dijk at £75million and Aymeric Laporte for £57million.
However, a number of the major transactions this January saw players leaving Premier League sides.
Brahim Diaz moved from Manchester City to Real Madrid for £15.5million, Mousa Dembele moving to Guangzhou R&F from Tottenham for £11million and Schalke shelling out £9.6million for Manchester City's Rabbi Matondo.
Tim Bridge, director in the Sports Business Group at Deloitte, said: "As we approach a decisive phase of the season, Premier League clubs' January transfer spending has been relatively muted in comparison to what we have seen in previous years."
January spending was at £225million in 2011 but fell to £60million in the following year.
It doubled the following year, and remained steady at £130million in 2014 and 2015, before jumping to £175million, £215million and £430million over the last three seasons.
The £180million transfer bill means total gross spending by Premier League clubs in the 2018/19 season is an estimated £1.4billion, the second-highest season ever following record spend of £1.9billion in 2017/18.
Other findings from Deloitte included the so-called Big Six accounting for 43% of the January expenditure, lower than last January when this figure stood at 62%.
Equally, those in the bottom six of the table spent £20million - compared to £70million in the same period last season.
Championship clubs spent £60million in the window, more than double last year's total of £30million, Deloitte added.
nelrado
0
possibly because man city didn't reinforce
Champ_20
1
Not Surprised
NAZIM36
1
@Afy
Amanda-
0
it actually is most viewers and has the most average attendance even the championship has more than some la liga clubs
When everything about the league and the country is all propaganda. Keep fooling yourself. The reality about EPL , UK and Brexit is, every goddamn things is press propaganda. So stop 🛑 this BS ! Fake news!
edenhazardous145
0
In your dreams
it actually is most viewers and has the most average attendance even the championship has more than some la liga clubs
Amanda-
0
it is the most popular league in the world
In your dreams
edenhazardous145
0
Everything about this site is about overrated EPL
it is the most popular league in the world
Amanda-
3
Everything about this site is about overrated EPL
Divyansh26
16
Finally Almiron became the most expensive player of Newcastle United 😊:-)......
zeoabilmyz
2
Historic melt down in premier league's January transfer index . Barca dominates Europe.
Rose01
2
boateng and barcelona . lmaoo
urately
1
The best transfer was by Arsenal yet no mention of it
DallasDK
2
Load of rubbish. Chelsea bought all sorts of super stars over the years at silly money. There were more failures than successes.
although
1
Disappointed that the window remained shut at Anfield. This was the best opportunity to add serious reinforcements for that title tilt but the arrogant German plonker messed up and instead lumbered us with some deadwood in the bargain. I don¿t see us winning it now with TAA, Wijnaldum, Lovren, Henderson, Matip in there. Add Keita to it. Frustrating times ahead. YNWA
Gavincor
1
Why don't we let Pulisic play a game before calling him a bust shall we?
Marryhoward
2
The worst January transfer deadline day in years, perhaps club owners know something about Brexit, who knows but it was definitely a big disappointment for the legendary Jim White Day
therefore
2
Salah should be banned for at least three games for serial diving, since the Ramos incident the wee rascal has enjoyed unbelievable protection and privileges that I've never seen in over fifty years of football
uptown
1
so Sancho is better than superstar pulisic?
Grialdo
0
This is a joke. A City reserves player rated over Morata returning to Spain where he scored for fun? Pure Prem entitlement
cityon
0
Chelsea got themselves a fat useless striker
Runningman
0
Penalty to Liverpool.
Labarber
0
I thought they already have over 100 potential stars that they farm out on loan?
lopegood
0
Dennis Suarez to Arsenal.
offlinea
0
Be out on loan soon pulisic
Lanpandra
0
Mistake by Liverpool not to sign him. What actually came down to only a few more million to sign him -will haunt them. For the future development of football in the US, Fenway sport group had a great opportunity to land the top US prospect in at least 2 generations of players. This was a move to strengthen them for next season but more importantly to solidify the US connection for a decade. John Henry should know better. Terrible decision
dolphiner
0
Klopp must be missing Clyne at RB....I know I am. #nohendo
Douglasdylan
0
31 yr old Higuain crocked after 1st game for Chelski, what a waste of money....Lol
luncheon
0
The deal that entire EPL missed were Benatia of Juve who cost 8M. Even though 31 but his CV should be enough to get him moved to any top 5 EPL easily.
Grancegad
0
Spurs first club not to sign anyone in 2 transfer windows will we get trophy for that TTID
technology
0
Morata wasnt a flop. Chelsea hardly ever put the ball into the area for him to score. You could have Messi Rinaldo and neymar up front you still wouldn't score.. you lot obviously don't do research when half the time we play with no forward
yankeesin
0
Solanke to Bournemouth much bigger deal than some of these Journo do your research please
Leewers
0
Should have signed the bloke keeping him out the team
ready2
0
Morata was a monumental flop too weak too fragile , pulisic couldn't get a game because an 18 year old took his place great movies chelski Hahahaha no stand out signings this year apart from Martial signing a new contract
uptownl
0
Morata Is Home In His Own Coutry....Warm Weather....Warm Supporters....World Class Players...World Class Coach....Best League In The World....What Could Go Wrong?...Expect The Biased English Who Watch One League Football To Differ.
citizeno
0
It is common knowledge within footballing circles that Manchester United (nickname - United) are making a £500million SWOOP for Lionel Messi worth £25million a WEEK.
mrbig
0
John Terry turned up at every club that did any business last night all kitted out I heard.
Jackys
0
Anyone else think it was a very dull transfer window?
technology
0
Fabregas got the bum deal.
billionon
0
Pulisic is overrated.
chidesco1
1
When the big boys (man utd, liverpool, man city, Chelsea(bar pulisic, which almost accounted for most of the total transfer fee)don't spend, its bound to be low. Spurs and arsenal were never going to sign anyone after all